Manufacturing & The Economy

New unemployment claims in the U.S. hit 6,648,000 this week, an increase of 3,341,000 from the previous week's revised level. Prior to last week the record was 695,000 from back in October of 1982. At this point it’s a possibility we see an unemployment rate of 20%, which would be more than double the high from the Great Recession of 08-09.